Mahama: Ghana’s Recovery Exceeds Expectations (Cedi Up 37%, Inflation Plummets!)
President John Dramani Mahama has said that Ghana’s economy is recovering much faster than anyone expected, both in Ghana and around the world. At the First Sky Group’s Thanksgiving Service in the Northern Region on Sunday, January 25, he said that his government took office during a time of great economic trouble and that it would take at least two years for clear signs of recovery to show up. Recent improvements in important macroeconomic indicators, such as a drop in inflation from 23.8 percent to 5.4 percent and a 37 percent rise in the value of the Ghanaian cedi over the course of a year, suggest a faster turnaround than expected. The President said that the progress has been praised by organizations like the International Monetary Fund and the World Bank. He said that the gains were due to good economic management, fiscal discipline, and divine intervention.
